EIU: Romania Economy To Post Weak Economic Recovery In 2011

Romanian economy is expected to grow only modestly in 2011, after a decline of 2% envisaged for 2010, while tough austerity measures are bound to face strong social opposition and could create instability, the Economist Intelligence Unit said in its latest global forecast Tuesday.

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The Balkan countries, a region that includes Romania, Bulgaria, Croatia and Serbia, are also exposed to fallout from Greece's problems because of investment, trade, remittance and banking links, the EIU noted.

It said the EU newcomers are expected to post growth of 2.8% in 2011 and of 3.4% in 2012. Inflation is seen at 3.4% this year and at 2.6% next year.

In the EU bloc, average economic growth is estimated at 1.6% for both 2011 and 2012.

The EIU revised upward its forecast for global economic growth to 4% in 2011, from 3.8% previously.

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